Financial Insecurity Affecting Obama Job Security

Americans are feeling badly about their financial security -- and are giving President Obama reason to worry about his job security, given his work on reviving the economy.

Two of five Americans feel less secure financially than a year ago, according to the results of a Harris Poll released Monday.

More precisely, 42 percent feel less secure, while 36 percent feel just as secure. Only 19 percent of the 2,331 adults polled between Dec. 6 and 13 said they feel more secure.

However, those results nonetheless show better feelings about financial security than a year ago. In December 2009, 56 percent of Americans said they felt less secure than a year earlier, meaning in December 2008.

Americans are not giving President Barack Obama any feelings of security, however At the end of his second year in office, only 30 percent of Americans gave him positive ratings, overall. And 70 percent gave him negative ratings on his work to resuscitate the economy.

Looking ahead, 26 percent of respondents said they expect the economy to get worse in the coming year while 29 percent expect it to get better. Last month, over one-third (34%) said they thought the economy would be getting better.

In the coming year, 49 percent of Americans say they will cut back on their household spending. Two in five say they will pay down their level of debt and save more in the year ahead. Less than one in ten will invest in less risky investments (8%), refinance their mortgage (6%) or take out a home equity line of credit (2%). And, one in five Americans (18%) say they do not expect to do anything differently financially in 2011.